The Prudential Regulation Authority has published its final rules for implementing the Solvency II directive alongside a consultation paper on the application process for the volatility adjustment.
The risk of a decreased talent pool has been highlighted by market players as a potential ramification of “onerous” regulation targeting non-executive directors at Solvency II insurance companies.
Changes to the banking industry's senior managers regime that affect non-executive directors are to be implemented for Solvency II insurers, the Financial Conduct Authority says.
The International Underwriting Association has called on UK insurance regulators to clearly state the prime authority of company boards over individual responsibilities for complying with industry rules.
The International Underwriting Association has revealed concerns over a lack of insurance experience at the Bank of England after Sam Woods was named executive director of insurance supervision.
The Prudential Regulatory Authority has named financial stability strategy and risk director Sam Woods as its new executive director of Insurance supervision, replacing Julian Adams.
The Prudential Regulatory Authority’s executive director of insurance has forecast that total capital held by insurers in the UK will likely drop under incoming Solvency II rules.
The Financial Conduct Authority is consulting on the Financial Services Compensation Scheme's proposed management levy for the next financial year which would see an overall 7.4% reduction in expenses.
Following a review the government has published a number of recommendations to ensure the way the financial regulators make enforcement decisions continues to be fair, transparent and efficient.
2014 is coming to a close and so much has happened but will insurers be sad to see it go? It was the year that started with Winter floods estimated to have generated a total bill of £500m and saw Labour Party Leader Ed Miliband demand insurers settle…
As we head into the pantomime season, it seems the insurance market’s Sleeping Beauty has awoken – and she means business.
Consultation reveals plan for more stringent controls on senior staff
Insurance executives should be grateful the proposed introduction of a senior insurance managers regime by the Prudential Regulation Authority is not as stringent as the rules facing bankers, according to one legal expert.
The Prudential Regulation Authority is consulting on introducing a senior insurance managers regime to ensure those running regulated insurance companies behave with integrity, honesty and skill.
One Re, a reinsurer focusing solely on business from Africa, has received approval by the Prudential Regulation Authority and the Financial Conduct Authority.
Next year has been billed as the beginning of a trend in rising motor premiums by advisory firm EY, yet a predicted average 2% rise in 2015 will be below the rate of claims inflation.
Letter to industry CEOs raised concerns over the sustainability of reserve releasing
The Prudential Regulation Authority has written to insurers in a bid to ensure firms are focused on sustainability after identifying an increase in reserve releasing in recent years.
The Lloyd's Market Association's educational arm has launched a leadership programme with the University of Cambridge to explore the implications of climate change for the insurance industry.
Insurers lack understanding of climate change’s implications for investments
The Prudential Regulatory Authority has appointed an outgoing Prudential executive director to serve as an independent member of its board from May next year.
Having made the leap from broking to an insurance company, I knew it would be different. I have had one or two ‘I don’t think we’re in Kansas anymore Toto’ moments but I always knew there would be a period of adjustment.
Insurers should be allowed to fail, as long as their exit is orderly, the Prudential Regulation Authority has stated.